USD/CHF Signal Update
Yesterday’s signals provided a profitable long entry following the bullish bounce from 0.9537. It would be wise to take further profit as we subsequently reached an area that the price is repeatedly failing to break out from.
Today’s USD/CHF Signals
Risk 0.75% per trade.
Trades must be taken before 5pm London time today only.
Long Trade 1
Go long after bullish price action on the H1 time frame following the next touch of 0.9537.
Place the stop loss 1 pip below the local swing low.
Move the stop loss to break even once the trade is 20 pips in profit.
Take off 50% of the position as profit when the trade is 20 pips in profit and leave the remainder of the position to ride.
Long Trade 2
Go long after bullish price action on the H1 time frame following the next touch of the bullish trend line currently sitting at around 0.9525.
Place the stop loss 1 pip below the local swing low.
Move the stop loss to break even once the trade is 20 pips in profit.
Take off 50% of the position as profit when the trade is 20 pips in profit and leave the remainder of the position to ride.
Long Trade 1
Go long after bullish price action on the H1 time frame following the next touch of 0.9418.
Place the stop loss 1 pip below the local swing low.
Move the stop loss to break even once the trade is 20 pips in profit.
Take off 50% of the position as profit when the trade is 20 pips in profit and leave the remainder of the position to ride.
USD/CHF Analysis
Again, as expected, the price found support at the 0.9537 level which as I expect produced the low of the day. The price has been having trouble getting above the 0.9650 handle but may do it today. If instead it falls below the bullish trend line, it could collapse all the way down to 0.9418.
There is nothing due today regarding the CHF. Regarding the USD, there will be a release of CB Consumer Confidence data at 3pm London time.